Canadian Dollar in Downtrend

The Canadian dollar is under pressure.  Broad US dollar strength against the FX majors and lop-sided positioning have combined to drive the Canadian dollar lower.  The slide began at the end of July and has continued with only minor interruptions since then. There are several positive factors for the Canadian dollar.  These include robust economic growth that targets 4.0% GDP

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Oil Prices Leap, Canadian Dollar Stumbles

Oil prices have surged over the past few days.  WTI oil spiked to $50.40/barrel overnight, supported by expectations that growing demand will outstrip production due to Opec’s oil production cuts.  In addition, the US sanctions against Venezuela for rigging an election have added another layer of support, warranted or not. However, a mix of weaker than expected Eurozone data ahead

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Dollar Dives on Fed Doves

The US dollar was under pressure during the week prior to the July 26 Federal Open Market Committee meeting because most market participants did not expect the Fed to give any fresh new insight. They got that part right.  The FOMC left interest rates unchanged, hinted at September for the start of balance sheet normalization, and very modestly downgraded the

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